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TRX – The Exchange 106

TRX - The Exchange 106

TRX – The Exchange 106

The Exchange 106 is a skyscraper within the Tun Razak Exchange (TRX) area, a new financial district currently being developed in Kuala Lumpur. The 95-floor building is topped with a 65-metre (213 ft), 12-storey high illuminated crown making it 445 m (1,460 ft) tall. The tower will have a net lettable area of 2.6 million square feet (240,000 square metres) and is benchmarked against similar buildings in large international financial centres, such as London’s Canary Wharf and The Shard, New York’s Freedom Tower, and Shanghai IFC.

As of October 2019, about 500,000 square feet of Exchange 106’s floor space has been taken up by large tenants, including a top five Fortune 500 global consulting firm and some of the world’s most recognized e-commerce platforms. The floor space is column-less, ranges from 28,000 to 34,000 sq ft (2,600 to 3,200 m2).

Proposal and Development

The skyscraper was first conceptualised when TRX was controlled by 1Malaysia Development Berhad (1MDB), a fund owned by the Malaysian government. On 13 May 2015, 1MDB Real Estate Sdn Bhd (1MDB RE), the master developer of TRX, and the Mulia Group announced that, through Mulia Property Development Sdn Bhd, they had signed a Sale and Purchase agreement for the development rights of the plot of land for the Exchange 106 (then known as the Signature Tower), with the land transacted at a value of RM665 million. Ground work on the Exchange 106 plot commenced on 1 March 2016, with the mat concrete foundation laid in May 2016.

Progression

Exchange 106 was a project managed wholly by the Mulia Group with structural construction carried out by China State Construction Engineering Corporation.

In May 2016, the tower’s foundation concrete pour took place over a weekend, and was the second largest continuous concrete pour in the world. Construction of the tower broke the local construction speed record by having completed a single floor in only two days at its peak. In December 2017, the building was structurally topped out, 19 months after commencement, achieving an average of 3 days a floor.

Work to complete the building continued in spite of uncertainties that arose with the change of government during the 2018 Malaysian general election held on 9 May 2018. In June 2018 the Malaysian government agreed to inject RM2.8 billion into the Tun Razak Exchange (of which The Exchange 106 is a part) in order to complete the project after discovering money was misappropriated to pay the debts of 1Malaysia Development Berhad.

Exchange 106 achieved its Certificate of Completion and Compliance in September 2019.

The construction of the TRX’s shopping mall (called The Exchange) which is located at the foot of the Exchange 106 is expected to be completed by the third quarter of 2021.

Tun Razak Exchange MRT Station

The Tun Razak Exchange (TRX) MRT station is an underground mass rapid transit (MRT) station which currently serves the Jalan Tun Razak, Jalan Kamuning, Jalan Inai and Jalan Delima areas of Kuala Lumpur, Malaysia. In the future, the station will be part of the new Tun Razak Exchange financial district (which it was named after) that is currently being developed.

The station is on the MRT Sungai Buloh-Kajang Line. It was opened on 17 July 2017 as part of Phase Two operations of the MRT line.

The station is designed to be a future interchange station with the MRT Sungai Buloh-Serdang-Putrajaya Line which is currently under construction.

If you are looking for office space listings and enquiries, please check Corporate Real Estate

Contributed by: YS Lim

For further details please email yslim@hartamas.com

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